Bank of Ireland has introduced a new digital money management service for its personal banking customers - Mi 365.

Available on the Bank of Ireland mobile app, the banks says that Money Insights 365 (Mi 365) helps personal customers take more control of their money by providing them with insights into their spending.

Using Mi 365, personal customers can:

•     Track average monthly spend with particular retailers

•     Track money in and out, including unexpected payments or refunds

In Association with

•     Review cash flow spend data in the account for up to six months

•     Track changes in spending trends across various categories such as groceries, clothing and entertainment

Mi 365 highlights duplicate transactions leaving the account, such as similar online subscriptions.

Susan Russell, the bank’s director of Retail Ireland, said: “Research shows that almost 70% of adults need help with tracking spending. Mi 365 responds to this by providing insights, alerts and interventions so that we can manage our money better.

“It can be hard to find the time to track your spending day-in day-out. Mi 365 does a lot of the heavy lifting by presenting customers with a range of individual spending insights.”

Russell explained that Mi 365 insights appears automatically under the customer account information on the home page of the Bank of Ireland app.  A carousel is presented with the three latest insights and an insight inbox retains all previously shown insights for 35 days. 

Personal customers can view insights drawn from their current account, joint current account, and credit card account activity.